The buzz around Facebook's Libra stablecoin is gone off through the roof, as some might say. The truth is that the cryptocurrency project undertaken by Facebook has shaken regulatory bodies around the world so "violently" that they cannot simply decide if Libra is a huge opportunity or huge threat. However, there are certain details around…
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Just when Mark Zuckerberg and his executive team had thought that the nasty news about Facebook and its Project Libra had died down a notch, out comes Yves Mersch, executive board member at the European Central Bank (ECB), with a blistering attack that opened up old festering wounds. “Treacherous promises”, and “Cartel-like behavior” are not…
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Just when the dust was beginning to settle after the “round-the-globe” tongue-lashing of Facebook’s Libra project, regulators from the EU have decided in their infinite wisdom to turn up the volume a notch once more. The latest “twist” in this ongoing melodrama is that officials in the European Economic Union are concerned about potential anti-trust…
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The Libra investigation is going with full force, it seems. Back in July 2019, the Financial Services Committee declared how serious the investigation for the Facebook's project is going to be. One member of the FSC that stood out with serious determination to do the job was Maxine Waters. The Congresswoman accentuated that, according to…
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Another day, another privacy defalcation by Facebook, so what else is new? Yes, once again Facebook is facing allegations that its staff has crossed another privacy line in the sand. San Francisco’s social media giant just cannot get out of its own way, when it comes to its two billion plus customers across the globe.…
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As the saying goes, “Success has a thousand fathers, but Failure is an orphan.” If anyone thought that the firestorm raised by Facebook and its Project Libra would die down, think again. There seems to be a second wave to this tsunami, as next level down technical politicos join the fray. Mark Zuckerberg, the distant…
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Facebook’s Libra project has turned from being an exciting new wave of innovation to help the unbanked to a public relations nightmare of the first order, after a rigid backlash from U.S. Congressmen and a palpable thrashing from government officials across the globe. We now have new survey data that purports that consumers in both…
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Facebook's Libra is getting traction as the project is going full speed ahead. However, it's not only the regulatory heat that Facebook has to deal with currently. Dozens of fake accounts are now claiming to sell Libra at a discount. The cryptocurrency is not released, yet scammers are all over the place. The information comes…
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As if Facebook and Project Libra do not have enough to worry about after two weeks of vociferous bashings from government officials across the globe, now four separate consumer groups have banded together and penned a letter condemning Libra and urging its 28 members and owners to withdraw from the project. The consortium of consumer…
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U.S. Congressional hearings are never fun events for those asked to attend. The opportunity for elected officials to preach whatever gospel they perceive that their political bases want to hear is just too great to ignore. They need to keep their voters back home cheering them on to greater stardom, or so it seems when…
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